Harwell, a UK-based leading spacetech business making satellites that gather data to solve pressing global challenges, Open Cosmos raised EUR 49 million in Series B. The company announced the fundraise on September 11, 2023. Three leading impact investors, ETF Partners, Trill Impact and A&G, led the financing for the company. Meanwhile, Accenture Ventures, Banco Santander InnoEnergy Climate Tech Fund and Claret Capital Partners provided the investment for Series B. In addition, Taavet Hinrikus and Kheng Nam Lee joined in the funding.
Purpose of financing for Open Cosmos
With the latest financing, the company has plans to accelerate its growth internationally. It also seeks to expand its offering to encompass sophisticated satellites and constellations. The company has plans to include satellite-based analytics and insight solutions.
What the company’s officials have to comment
Rafel Jorda Siquier, CEO and Founder at Open Cosmos said, “Since launch, we’ve viewed Open Cosmos as more than a spacetech company; we are agents of change, harnessing the power of satellite data to drive meaningful impact on Earth. Our successful Series B funding, with the support of such prominent ESG and impact investors, is a testament to our commitment to sustainability and innovation. It is important for us as a business to work with investors that believe in our mission and align with our values to use technology to solve urgent global problems, and we’re delighted to find that with ETF Partners, Trill Impact and A&G. This investment will propel us forward, allowing us to accelerate our growth, expand our capabilities, and continue offering cutting-edge solutions.”
What the investors have to comment
ETF Partners Managing Partner Patrick Sheehan further said, “Through their technological innovation, Open Cosmos has proven that space is a vital resource for the continued health and prosperity of our planet. Since ETF Partners is an investment firm focused on sustainability through innovation, Open Cosmos is a perfect match for our values and provides an exciting opportunity for profitable investment into a robust and growing market. We are thrilled to be part of this milestone and look forward to carrying our partnership into the future.”
In addition, Toba Spiegel, Investment Manager at Trill Impact, “Space data has always been an important means of understanding planet Earth, but in our view, it is only with its increasing affordability, the amplifying effects of climate change and the rapidly growing number of AI/ML solutions that extract insights from this data that the market is now ready to reach its full potential. Open Cosmos is a leader in providing multi-sensor space data at an affordable cost, and we consider it a pioneer in creating an app store-like analytics offering.”
About the company
Aleix Megias Homar, Rafael Jorda Siquier launched the company in 2015. The company has a team of nearly 70 people distributed across the UK, Spain and Portugal. It looks to expand into Latin America, the Middle East and Asia Pacific in due course.
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